France-based The Blockchain Group has added another 580 Bitcoin to its Bitcoin treasury, following a 225% surge in its stock price since it began hoarding Bitcoin in November.

This is the largest of the three Bitcoin purchases made by the organization, per a March 26 after-hours statement. At the time of publication, 580 Bitcoin is worth $50.64 million, with Bitcoin’s (BTC) price trading at $87,311, according to CoinMarketCap data.

First purchases at pivotal Bitcoin moments

The Blockchain Group’s first two Bitcoin purchases happened around significant milestones for the Bitcoin industry. It bought 15 BTC on Nov. 5, the same day Donald Trump won the United States presidential election and before Bitcoin went on a month-long rally that saw it reach $100,000 for the first time in December.

Bitcoin is up 24.38% over the past 12 months. Source: CoinMarketCap

The second purchase was 25 Bitcoin on Dec. 4, when Bitcoin was trading at $96,000 during the post-election rally, with anticipation growing about a six-figure price — which happened the next day.

March 26 isn’t a major date for Bitcoin, but it’s five days before the end of Q1 2025 — a quarter where Bitcoin has underperformed compared to previous years’ first quarters — and it’s also approaching the first anniversary of the Bitcoin halving on April 20.

According to The Blockchain Group’s website, the Bitcoin strategy was an effort to leverage the holding company’s excess cash and appropriate financing instruments.

The Blockchain Group (ALTBG) is listed on Euronext Paris, Europe’s second-largest stock exchange by market cap.

The firm refers to itself as a “global umbrella” of companies specializing in data intelligence, AI and decentralized technology. Since it began its Bitcoin accumulation on Nov. 5, ALTBG has risen 225% to 0.48 euros ($0.52), according to Google Finance data.

The latest Bitcoin purchase was announced after the market already closed on March 26.

Blockchain Group SA stock has soared since it announced its Bitcoin accumulation. Source: Google Finance

It comes on the same day that GameStop shares jumped nearly 12% after the company announced plans to purchase Bitcoin.

The company plans to finance the purchase through debt financing. After markets closed on March 26, GameStop announced a $1.3 billion convertible notes offering.

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N7 Capital founder Anton Chashchin said in a recent statement viewed by Cointelegraph, “It’ll be interesting to observe if other companies take up the baton from GameStop and where this will lead the market.”

Meanwhile, US-based angel investor Jason Calacanis said buying Bitcoin was a solution well-suited for public companies that do not have a suitable business model.

Michael Saylor, the original advocate for corporate Bitcoin adoption, has led his firm, Strategy, to recently cross the 500,000 Bitcoin mark, currently holding 506,137 Bitcoin.

Between November and January, Strategy maintained a 12-week consecutive Bitcoin buying streak.

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

OpenAI expects to more than triple its revenue this year to $12.7 billion, despite fast-growing competition from the likes of China’s DeepSeek and other competitors making rapid progress.

The ChatGPT creators also expect its revenue target for 2025 to more than double to $29.4 billion by 2026, Bloomberg reported on March 26, citing a person familiar with the matter.

The 2025 estimate is a little higher than the $11.6 billion revenue target that OpenAI was reportedly eyeing for 2025, The New York Times reported last September.

Bloomberg noted that the bulk of ChatGPT’s revenue has come from its paid AI software subscription offerings for consumers and businesses.

OpenAI reportedly hit 1 million paid users for the corporate versions of ChatGPT last September, while the company more recently added a $200 monthly ChatGPT Pro option.

The Sam Altman-led firm does not expect to be cash-flow positive until 2029, when it expects its revenue to top $125 billion, the person told Bloomberg.

OpenAI is reportedly close to finalizing a $40 billion funding round led by SoftBank Group at a valuation of up to $300 billion, Bloomberg reported on March 26. The firm is also looking to convert its nonprofit business model into a for-profit venture.

Competition heats up between US and Chinese AI players

While the release of DeepSeek’s ChatGPT-competitor “R-1” model sent shockwaves through the AI industry in late January, it sparked a wave of several other high-quality, low-cost AI solutions from other Chinese tech firms, Bloomberg reported on March 26.

Baidu Inc. launched its “Ernie X1” model to compete with DeepSeek’s R-1 model in China, while Alibaba Group launched its new open-source AI model for cost-effective AI agents on March 26.

Source: David Sacks

Tencent Holdings also unveiled an AI chatbot of its own under subsidiary firm Ant Group Co, while DeepSeek released its latest model — DeepSeek-V3-0324 — on March 24.

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While it remains to be seen how these Chinese models truly stack up against OpenAI’s products, the newer and often cheaper options are putting more pressure on the business models of leading US companies, Balaji Srinivasan, a tech investor and former general partner at tech-focused venture capital firm Andreessen “a16z” Horowitz said in a March 22 X post.

“China is trying to do to AI what they always do: study, copy, optimize, and then bankrupt everyone with low prices and enormous scale.”

Lee Kai-fu, CEO of Chinese startup 01.AI told Reuters on March 25 that DeepSeek’s efforts have positioned Chinese AI firms only three months behind their US counterparts after previously being around six to nine months behind.

Source: The Short Bear

Meanwhile, OpenAI’s CEO Sam Altman said on Feb. 12 that his firm is looking to ship GPT-4.5 and GPT-5 in the coming weeks or months.

Plus and Pro subscribers will be able to run GPT-5 at a “higher level of intelligence” which will incorporate voice, canvas, search, deep research features and more, he said in OpenAI’s technical roadmap update.

Among OpenAI’s competitors in the US market are Anthropic, DeepMind, xAI and Google’s Gemini.

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A coalition of crypto firms has urged Congress to press the Department of Justice to amend an “unprecedented and overly expansive” interpretation of laws that were used to charge the developers of the crypto mixer Tornado Cash.

A March 26 letter signed by 34 crypto companies and advocate groups sent to the Senate Banking Committee, House Financial Services Committee and the House and Senate judiciary committees said the DOJ’s take on unlicensed money-transmitting business means “essentially every blockchain developer could be prosecuted as a criminal.”

The letter — led by the DeFi Education Fund and signed by the likes of Kraken and Coinbase — added that the Justice Department’s interpretation “creates confusion and ambiguity” and “threatens the viability of U.S.-based software development in the digital asset industry.”

The group said the DOJ debuted its position “in August 2023 via criminal indictment” — the same time it charged Tornado Cash developers Roman Storm and Roman Semenov with money laundering.

Storm has been released on bail, has pleaded not guilty and wants the charges dropped. Semenov, a Russian national, is at large.

Source: DeFi Education Fund

The DOJ has filed similar charges against Samourai Wallet co-founders Keonne Rodriguez and William Lonergan Hill, who have both pleaded not guilty.

The crypto group’s letter argued that two sections of the US Code define a “money transmitting business” — Title 31 section 5330, defining who must be licensed and Title 18 section 1960, which criminalizes operating unlicensed.

It added that 2019 guidance from the Treasury’s Financial Crimes Enforcement Network (FinCEN) gave examples of what money-transmitting activities and said that “if a software developer never obtains possession or control over customer funds, that developer is not operating a ‘money transmitting business.’”

The letter argued that the DOJ had taken a position that the definition of a money transmitting business under section 5330 “is not relevant to determining whether someone is operating an unlicensed ‘money transmitting business’ under Section 1960” despite the “intentional similarity” in both sections and FinCEN’s guidance.

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The group accused the DOJ of ignoring both FinCEN’s guidance and parts of the law to pursue its own interpretation of a money-transmitting business when it charged Storm and Semenov.

They said the result had seen “two separate US government agencies with conflicting interpretations of ‘money transmission’ — an unclear, unfair position for law-abiding industry participants and innovators.”

The letter said that if not addressed, the Justice Department’s interpretation would expose non-custodial software developers “within the reach of the U.S. to criminal liability.”

“The resulting, and very rational, fear among developers would effectively end the development of these technologies in the United States.”

In January, Michael Lewellen, a fellow of the crypto advocacy group Coin Center, sued Attorney General Merrick Garland to have his planned release of non-custodial software declared legal and to block the DOJ from using money transmitting laws to prosecute him.

Lewellen said the DOJ “has begun criminally prosecuting people for publishing similar cryptocurrency software,” which he claims extended the interpretation of money-transmitting laws “beyond what the Constitution allows.”

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